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Real Gross Domestic Product up 2.8%

According to the January 27th report by the Bureau of Economic Analysis, the output of goods and services produced by labor and property in the United States, reported the Real Gross Domestic Product up 2.8% in the fourth quarter of 2011.  In the third Quarter, real Gross Domestic Product had increased 1.8%.

The bureau indicated that the increase was reflected primarily of “…an upturn in private inventory investment and accelerations in PCE and in residential fixed investment that were partly offset by deceleration in non residential fixed investment, a downturn in Government spending,  an acceleration in imports, and a larger decrease in state and local Government spending.”

Some impressive statistics could be the reported increase in real personal consumption expenditures of 2.0% in the fourth quarter, as well as real exports of goods and services reflecting a 4.7% increase in the fourth quarter.

Other noteworthy statistics reported by the bureau of economic alalysis include:

Real Gross Domestic purchases – purchases by U.S. residents of goods and services, wherever produced, increased 2.8% in the fourth quarter.

Disposable personal income increased $42.7 Billion (1.5 percent)